Shorts Get Killed Again; Leading Stocks Soar!
July 3, 2007 | Leave a Comment
Today sure did not surprise me, despite being unbiased here. The way the charts have been setting up, anything but this big up day would have stunned me. The charts are set up for more of this type of action. I see many many charts that are definitely in the middle of climax runs. Since nobody knows where they are at we can only assume that more gains are coming with the short interest so high on the NYSE and so many individual stocks.
As for today’s action, the SP 400 was the standout gaining 1.3%. However, the big news came from leading stocks as the IBD 100 gained an amazing 2.8%. This mirrored my 3% plus gain today in my personal account. This shows that leading stocks with great fundamentals and great chart patterns are finally being rewarded in much greater fashion than the old Dow stocks. Read more
A Choppy Week Comes To A Close As Stocks Reverse Earlier Gains And Close Lower; Leaders Are Still Leading
July 2, 2007 | Leave a Comment
Stocks started Friday off on a positive note thanks to the PCE deflator coming in at its lowest levels since Q4 2004. However, bomb scares in London (and this weekend in Glasgow) started stocks lower as prices put in another reversal making it 4 of the past 5 and 6 of the past 8 days where stocks have turned gains into losses. The selling really started picking up steam when more subprime worries hit the market but that was too much fear for the market and dip buyers showed up bringing the indexes off their lows into the closing bell. Read more
A Choppy Week Comes To A Close As Stocks Reverse Earlier Gains And Close Lower; Leaders Are Still Leading
July 1, 2007 | Leave a Comment
Stocks started Friday off on a positive note thanks to the PCE deflator coming in at its lowest levels since Q4 2004. However, bomb scares in London (and this weekend in Glasgow) started stocks lower as prices put in another reversal making it 4 of the past 5 and 6 of the past 8 days where stocks have turned gains into losses. The selling really started picking up steam when more subprime worries hit the market but that was too much fear for the market and dip buyers showed up bringing the indexes off their lows into the closing bell.
At the close, the NYSE was the only index higher with a .1% gain, the DJIA was lower by .1%, the Nasdaq and SP 500 lost .2%, the SP 400 was down .3%, and the SP 600 lost .4%. Showing that it pays to be in the right place at the right time, leading stocks in the form of the IBD 100 killed the broad market with a 1.3% gain. Read more
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